The internet of gold: Digital transformation in mining

Today’s metals and mining companies have to meet increasingly complex demands that are questioning conventional business models.

Sudden fluctuations in commodity prices, lower-grade ores, tightening regulatory compliance – all of these can wreak havoc on a company’s bottom line.

Fortunately, advances in digital technology are offering miners and metal producers significant benefits and are ushering in a new era of digital transformation and operational excellence.

Miners are starting to turn to big data, advanced analytics and machine learning to boost their manufacturing efficiency, lower all-in sustaining costs (AISC), and improve regulatory compliance and reporting.

Digitisation is offering new ways of approaching every stage of the mine lifecycle, asset maintenance, productivity and energy optimisation – even safety and security.

While the mining sector, as a whole, has been sluggish to embrace new technologies, large-scale gold producers are taking advantage of operational data to bolster their recovery rates and lower operating costs.

By gathering and storing real time data from expensive mining equipment-a large mining truck can cost over $5 million-operators are literally turning data into gold.

Gold companies, for example, are leveraging sensor-based data to improve their trucks’ lifecycle, reduce fuel consumption and even help improve asset health by predicting breakdowns before they occur.

Read the full article to find out how OSIsoft is helping top mining customers like Aurelia Metals, Barrick Gold, and Goldcorp to tackle industry challenges through real-time operational intelligence.

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